Calypso Users Highlight Vendor Ownership of Implementation as a Critical Success Factor
2010 Calypso User Survey reveals implementation quality and cost control as top success factors for projects
Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, unveiled the results of the 2010 Calypso User Survey conducted at the global customer conference in San Francisco in May. Results highlighted that firms want vendor responsibility and involvement throughout the deployment process in order to manage implementation quality and costs.
Delegates representing Calypso’s 100+ customers from leading financial institutions around the globe met in May to discuss market trends as well as how the Calypso platform addresses these trends -- through its support of trading, risk management and processing for a broad array of asset classes on a single integrated platform.
In the annual Calypso User Survey conducted during the conference, respondents indicated that vendor ownership of implementation projects was the most important factor in project success compared to the availability of implementation partners and other services. “Given current economic conditions, firms buying IT are becoming more vigilant in requiring vendors to share implementation risks,” states Kishore Bopardikar, President of Calypso Technology. “Customers want to see highly skilled vendor teams involved in the project, and not responsibility delegated to just any third-party implementation shop.”
“The results confirmed our understanding of clients’ priorities when it comes to technology projects,” continued Bopardikar. “Under the old model, customers went directly to partners for their implementation services. In the new approach, we provide customers with the reliability and predictability that they want through a managed program that combines our experts with trained partner resources. As a result, more projects of varying sizes and complexity are completed on time and on budget.”
Using the new partnering approach, Calypso has enabled more than 30 customers from around the globe from five continents to go into production or upgrade during the 2009 calendar year. This is expected to grow 15% in 2010. “In order for clients to upgrade or expand their relationships with their technology vendor, you need to foster trust: trust in your product quality and in your professional services staff to guide them through the implementation,” states Mr. Bopardikar.